Gabelli Funds LLC Sells 2,800 Shares of GE Vernova Inc. (NYSE:GEV)

Gabelli Funds LLC decreased its holdings in shares of GE Vernova Inc. (NYSE:GEV) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,530 shares of the company’s stock after selling 2,800 shares during the quarter. Gabelli Funds LLC’s holdings in GE Vernova were worth $31,423,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cedar Mountain Advisors LLC increased its position in GE Vernova by 102.6% during the fourth quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company’s stock worth $25,000 after acquiring an additional 39 shares during the period. MRP Capital Investments LLC bought a new stake in shares of GE Vernova in the fourth quarter valued at about $25,000. Fairway Wealth LLC grew its position in GE Vernova by 220.0% during the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company’s stock worth $26,000 after buying an additional 55 shares in the last quarter. Pineridge Advisors LLC increased its stake in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company’s stock valued at $27,000 after acquiring an additional 69 shares during the period. Finally, Pinpoint Asset Management Ltd acquired a new position in GE Vernova in the 4th quarter valued at approximately $30,000.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GEV shares. Baird R W upgraded GE Vernova to a “strong-buy” rating in a research report on Thursday, February 13th. New Street Research set a $380.00 price target on shares of GE Vernova in a report on Wednesday, March 5th. Royal Bank of Canada reduced their price objective on shares of GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. Bank of America upped their target price on shares of GE Vernova from $380.00 to $415.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group raised their price target on shares of GE Vernova from $446.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Seven research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $345.84.

GE Vernova Trading Up 0.1 %

GE Vernova stock opened at $321.84 on Tuesday. The firm has a market capitalization of $87.97 billion and a P/E ratio of 57.88. The business has a 50-day moving average of $325.81 and a 200-day moving average of $328.68. GE Vernova Inc. has a 1 year low of $128.25 and a 1 year high of $447.50.

GE Vernova (NYSE:GEV) last announced its quarterly earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.57). GE Vernova had a return on equity of 6.70% and a net margin of 4.44%. The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.70 billion. GE Vernova’s revenue for the quarter was up 5.1% compared to the same quarter last year. Research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

GE Vernova Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 18th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.31%. GE Vernova’s payout ratio is 17.99%.

About GE Vernova

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.